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Arvest Acquires SolutionsBank in Kansas City Market

Arvest Bank has agreed to a purchase and assumption with loss share agreement with the Federal Deposit Insurance Corp. as receiver for SolutionsBank, Overland Park, Kan.Arvest Bank assumes all non-brokered deposits and loans of SolutionsBank. Customers of both banks should continue to bank as they normally do at their usual banking locations until Arvest Bank fully integrates the branches of SolutionsBank.After the close of business on Dec. 11, SolutionsBank was closed by the Office of the State Bank Commissioner of the State of Kansas and the FDIC was named the receiver. SolutionsBank branches reopened as Arvest Bank locations on Dec. 12.Depositors of SolutionsBank can continue to access their money by writing checks, using ATMs, debit cards or the Internet, the bank said Checks drawn on the bank will continue to be accepted. Loan customers should also continue to make their payments as usual.Mark Larrabee, president, Arvest Bank Kansas City, said, “We are pleased to welcome SolutionsBank customers to the Arvest Bank family and want to assure all customers of SolutionsBank that all of their deposits are safe and accessible and that they will have the best financial products and services at their disposal.“As a bank strongly focused on financial strength, relationships and service, we look forward to getting to know our new customers from SolutionsBank.”Arvest Bank currently operates three branches in the region, with one each in Mission, Olathe and Overland Park in Kansas.Arvest Bank operates more than 220 bank branches in Arkansas, Oklahoma, Missouri and Kansas. A network of 16 locally-managed banks, each with its own management team and local board, serves customers in over 90 communities. Arvest has $10.1 billion in assets and $1.1 billion in capital as of Sept. 30.